Day: October 6, 2017

Can blockchain create safer skies? It can take stretching of the imagination for most people to consider if an immutable ledger could create a platform that would ensure transparency in the skies but it is possible according to Aeron. We talked with Artem Orange, the CEO of Aeron, amidst the crowdsale the project is holding … Continue reading No More Paper Aeroplanes. Aeron brings Aviation Industry to Digital Era

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Smart contracts are part of the blockchain zeitgeist. And with reason: they are unlocking many useful applications. I’m writing this post to clarify that there are really two types of smart contracts: stateful smart contracts are the most flexible; stateless smart contracts have better scale and security.

Post-JP Morgan, it appears other anti-Bitcoin sources are struggling to find anything wrong with cryptocurrency at all. Could they?

Project Dolphin Blockchain Intelligence is a platform for collecting quick and high-quality risk assessment and information about ICO campaigns. It was one of the 10 projects selected for investment and consulting assistance by Startupbootcamp accelerator. Pre-money evaluation of the startup is 6 mln EUR, what the team will receive and use (infrastructure and services) is … Continue reading Start-up Dolphin BI receives investment from global accelerator Startupbootcamp

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There is hardly ever a boring day in cryptocurrency. Over in Brazil, Bitcoin appears to be well-received so far. Although it is still a niche market, things are certainly evolving in the right direction. XP Investimentos is the largest brokerage firm in this country. They are now filing a patent for the XP Bitcoin brand. … Continue reading Major Brazilian Brokerage Files a Patent for the XP Bitcoin Brand

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Switzerland’s Lucerne University of Applied Sciences and Arts has announced that it will accept bitcoin as payment for student expenses.

The cryptocurrency industry has gone through a few interesting days once again. After the Bitcoin price seemingly got stuck in sideways and borderline bearish territory, things are finally picking up once again. Right now, the Bitcoin price is inching closer to the $4,400 value once again, which seemingly confirms we are in for a wild upward ride in the coming weeks.

Bitcoin Price Surpasses $4,400 Once Again

It is good to see the Bitcoin price finally surpass the $4,400 value once again. After all, we have seen a solid base for recovery a few days ago, but things suddenly stalled around the $4,300 levels for some unknown reason. Until today, no one knows for sure why that has happened exactly, considering there was no real reason for this sudden lack of momentum whatsoever. Then again, cryptocurrency markets often evolve by doing their own thing, to say the least.

More specifically, with the Bitcoin price suddenly rising back to $4,400, it seems the uptrend has been resumed once again. Whether or not that will be the case, remains anybody’s guess right now, though. Good things are happening to the Bitcoin price as we speak, but the momentum can come and go on a rather regular basis depending on how speculators look at things. With the weekend almost upon us as we speak, things will not necessarily improve for the better in the coming days.

It is evident this current Bitcoin price “surge” will attract a lot of attention, to say the least. There has always been a positive focus on Bitcoin when the price goes up, but it does appear a lot of people have been waiting for the return to $4.400. Although this does not necessarily mean we will reach a new all-time high in the coming weeks, things are looking a lot more promising compared to just two or three days ago. Then again, the Bitcoin market will remain volatile for quite some time to come.

One thing to take into account is how the Bitcoin trading volume is not looking all that great by any means. More specifically, the current trading volume is hovering around $1.18bn, which is still on the rather low side. However, if most of that volume is related to people buying Bitcoin rather than selling, it is certainly possible we will see another leg up in the coming hours. There will always be some profit taking along the way, though, and one small red candle on the charts doesn’t mean things will suddenly head south either.

Looking over the exchanges bringing in the most trading volume, there is one notable change. Bithumb is no longer in the top three by volume, which is somewhat of a surprise.  Instead, HitBTC is now generating enough trading volume to be ranked in the top three. For some unknown reason, this smaller exchange has been making a lot of headway in different cryptocurrency markets as of late. An unusual turn of events, but it goes to show things are never set in stone in the cryptocurrency sector.

For the time being, it remains to be seen how the Bitcoin price will evolve in the coming hours. Reaching $4,400 is a major milestone, even though it is still $600 removed from the current all-time high for Bitcoin. Whether or not things will pick up again over the weekend, remains to be determined. For now, things are looking pretty solid, but there is still a lot of work to be done before anything can even be confirmed.

GameCredits (GAME) currently has a US$159 million market cap, and rose in value by a factor of 10x in 2017. However, the asset has lost just over half of those gains in the past three months.GAME was created in 2016 by European developers and aims to be a universal payment method for in-game transactions. The team has also been working on the Gamecredits Mobile Store and Platform, an alternative to the Google Play and Apple stores. GAME’s app store currently boasts over 300 games, with more on the way. The store keeps 10% of total game sales as opposed to the 30% cut by Apple and Google, much needed competition which helps indie developers keep more proceeds.

MEPs are worried about the monitoring of cryptocurrencies at EU borders, according to a draft report.

On October 5, the popular bitcoin exchange Bitfinex released its chain splitting terms and conditions concerning the upcoming November Segwit2x hard fork. The trading platform is also launching ‘Chain Split Tokens’ that will provide traders with the option to place bets on the “potential activation and mining of the Segwit2x protocol.” 

Also read: U.S. Regulators and Blockchain Advocates to Discuss ICO Implications on October 12

Bitfinex Releases New Terms and Segwit2x Future Markets

The Hong Kong-based exchange, Bitfinex, has released information regarding the Segwit2x hard fork taking place in just over a month. According to Bitfinex, its new terms and conditions apply to all exchange users and will “govern” the use of a customer’s split tokens. The terms stated can also be changed at any time by Bitfinex and “without prior notice.”

Essentially, Bitfinex has named the split tokens in order to provide proof of ownership to users after the occurrence of a “Chain Split Event.” According to Bitfinex, a splitting event during the Segwit2x hard fork entails;

A ‘Chain Split Event’ means a fork in the incumbent Bitcoin blockchain that produces a viable and alternative blockchain — and that may only be used exclusively based on the consensus protocol of Segwit2x.

Bitfinex is also launching a speculative market so traders can bet on the outcome of Segwit2x and the legacy chain. The exchange details they have created a new pair of CSTs so traders can speculate on the upcoming fork and CSTs will trade against BTC and USD. Initially, the markets will have no leveraging abilities but if there is enough liquidity Bitfinex says they will reevaluate the market.

The Chain Split Token ‘BTX’

The names of the tokens will be labeled accordingly on the Bitfinex exchange starting with “BT1,” which represents the incumbent Bitcoin blockchain. The name “BT2” represents the Segwit2x protocol before the occurrence of a hard fork. “BTX” will be defined as a chain split token (CST) after the hard fork occurs.

Bitfinex further explains each contract settlement plan for a users current holdings and the following CST settlements that will occur after a chain split.

“In the case of BT1, the blockchain shall be defined by the consensus rules used on the Incumbent Blockchain, currently designated with the ticker symbol BTC,” explains the Hong Kong-based exchange. “In the case of BT2, Segwit2x shall be deemed to exist only if a blockchain has diverged incompatibly from the Incumbent Blockchain — Any settlements of BT2 shall be to B2X.”

In the unlikely event that only one blockchain exists, and it is compatible with the consensus rules of both the incumbent blockchain and Segwit2x, then a determination may be made, in the sole and absolute discretion of Bitfinex, as to whether that blockchain is more compatible with the consensus rules of the incumbent blockchain or with Segwit2x effective on October 5, 2017.

Additionally, Bitfinex explains they will assume no “liability or responsibility” for losses associated with CSTs, Digital Tokens, or B2X. Furthermore, after the hard fork and following settlements, Bitfinex “may or may not list B2X.”

What do you think about Bitfinex’s new terms and conditions regarding Segwit2x? Let us know what you think in the comments below.

Images via Shutterstock and the Bitfinex logo. 

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Bitfinex has launched not one but two SegWit2x ‘chain split tokens’ as users praise the exchange’s clarity.

Key Highlights Ethereum classic price is gaining upside momentum and already moved above $11.80 against the US Dollar. There was a break above a monster bearish trend line with resistance at $12.00 on the hourly chart of ETC/USD (Data feed via Kraken). The pair might soon break the $12.60 resistance to trade further higher in … Continue reading Ethereum Classic Price Technical Analysis – ETC/USD Gaining Pace

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